Question 123
If there is a profit of 20% on the cost price, the percentage of profit on the sale price is
Solution
Let C.P. = $$100x$$
Profit % = 20%
=> Profit = $$\frac{20}{100} * 100x = 20x$$
S.P. = $$100x + 20x = 120x$$
Now, % profit on selling price = $$\frac{20x}{120x} * 100$$
= $$\frac{100}{6}$$ = 16$$\frac{2}{3}$$%
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